Nisa Investment Advisors LLC Sells 3,150 Shares of Darden Restaurants, Inc. (DRI)
Nisa Investment Advisors LLC lessened its holdings in Darden Restaurants, Inc. (NYSE:DRI) by 6.9% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 42,256 shares of the restaurant operator’s stock after selling 3,150 shares during the period. Nisa Investment Advisors LLC’s holdings in Darden Restaurants were worth $4,057,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of DRI. M&R Capital Management Inc. bought a new position in shares of Darden Restaurants in the 2nd quarter worth approximately $108,000. D.A. Davidson & CO. lifted its stake in shares of Darden Restaurants by 1.7% in the 2nd quarter. D.A. Davidson & CO. now owns 1,271 shares of the restaurant operator’s stock worth $114,000 after purchasing an additional 21 shares during the period. Moisand Fitzgerald Tamayo LLC bought a new position in shares of Darden Restaurants in the 3rd quarter worth approximately $115,000. Grove Bank & Trust lifted its stake in shares of Darden Restaurants by 155.6% in the 3rd quarter. Grove Bank & Trust now owns 1,840 shares of the restaurant operator’s stock worth $145,000 after purchasing an additional 1,120 shares during the period. Finally, Campbell & CO Investment Adviser LLC bought a new position in shares of Darden Restaurants in the 3rd quarter worth approximately $208,000. Hedge funds and other institutional investors own 91.83% of the company’s stock.
In related news, SVP Douglas J. Milanes sold 4,300 shares of the firm’s stock in a transaction on Wednesday, January 10th. The shares were sold at an average price of $97.05, for a total value of $417,315.00. Following the completion of the transaction, the senior vice president now directly owns 7,513 shares of the company’s stock, valued at $729,136.65. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Eugene I. Lee, Jr. sold 59,783 shares of the firm’s stock in a transaction on Wednesday, January 10th. The shares were sold at an average price of $96.80, for a total transaction of $5,786,994.40. Following the completion of the transaction, the insider now directly owns 164,396 shares of the company’s stock, valued at $15,913,532.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 74,866 shares of company stock valued at $7,252,094. Insiders own 0.63% of the company’s stock.
Shares of Darden Restaurants, Inc. (DRI) opened at $97.46 on Thursday. The company has a current ratio of 0.34, a quick ratio of 0.20 and a debt-to-equity ratio of 0.47. Darden Restaurants, Inc. has a fifty-two week low of $71.43 and a fifty-two week high of $100.11. The stock has a market cap of $12,050.00, a P/E ratio of 24.55, a price-to-earnings-growth ratio of 1.87 and a beta of 0.20.
Darden Restaurants (NYSE:DRI) last announced its quarterly earnings data on Tuesday, December 19th. The restaurant operator reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.03. Darden Restaurants had a net margin of 6.46% and a return on equity of 26.24%. equities research analysts anticipate that Darden Restaurants, Inc. will post 4.76 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Wednesday, January 10th will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date of this dividend is Tuesday, January 9th. Darden Restaurants’s dividend payout ratio (DPR) is currently 63.48%.
A number of equities research analysts have commented on DRI shares. Zacks Investment Research upgraded shares of Darden Restaurants from a “hold” rating to a “buy” rating and set a $111.00 target price on the stock in a research note on Monday, January 8th. Wells Fargo & Co restated a “market perform” rating and set a $99.00 target price (up previously from $92.00) on shares of Darden Restaurants in a research note on Tuesday, January 9th. Maxim Group restated a “buy” rating and set a $112.00 target price (up previously from $103.00) on shares of Darden Restaurants in a research note on Tuesday, January 9th. Credit Suisse Group restated a “hold” rating and set a $95.00 target price on shares of Darden Restaurants in a research note on Friday, January 12th. Finally, BMO Capital Markets set a $99.00 target price on shares of Darden Restaurants and gave the stock a “hold” rating in a research note on Friday, January 12th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and eleven have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $96.22.
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Darden Restaurants Profile
Darden Restaurants, Inc is a full-service restaurant company. The Company owned and operated 1,536 restaurants through its subsidiaries in the United States and Canada, as of May 29, 2016. The Company’s segments include Olive Garden, LongHorn Steakhouse, Fine Dining (which includes The Capital Grille, and Eddie V’s Prime Seafood and Wildfish Seafood Grille (Eddie V’s)) and Other Business (which includes Yard House, Seasons 52, Bahama Breeze, consumer-packaged goods and franchise revenues).
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